The start of budget week is a good time to be optimistic so I read this headline as a statement from the City that things are going in the right direction.
Of course, the opposition parties are sharpening their knives to stick them into John Healy after he finishes his budget speech but we appear as a nation to be suffering the worst that wars can offer us and to grow. After hitting a high last month, our borrowing has reduced in cost as gilt rates have fallen back and this is because of good GDP figure once again.
We continue to hear what as a nation we want to hear from the new Prime Minister. We are discovering new things that can be done with artificial intelligence and have yet to see the correction in markets which will damage our savings pots. This should be a good time – there will be bad time around the corner but this is not one of them.
And I am glad to read this headline in the Times. It’s “1” and “2” for pensioners 
Both of these measures were expected but they are still welcome.
Also welcome is that for those who are approaching retirement, tax free cash can be drawn from DC pots as we can now. That’s “3” for those retiring in part or whole
The angry Torsten Bell rebuking the pensions industry for speculating it would be cut spoke from the Treasury when he accused doomsayers from forecasting cuts in tax reliefs for pension savers or pension contributors. This from todays article in the Times
The Times has also been told that the chancellor has decided not to reduce the tax-free pension lump sum. Pension savers can take 25 per cent of their pension tax-free from the age of 55 up to a maximum of £268,275.
There were suggestions that Healey could reduce the tax-free amount to £100,000, but he has chosen to retain the current level.
Steve Webb saying what seems the unanimous verdict on what is to come
“This looks like being a decidedly pensioner-friendly budget. Following the prime minister’s recent announcement on changes to the triple lock, this budget will be designed to reassure pensioners that the government is still ‘on their side’.”
Of course this does not sell copy but it’s well we enjoy good times while we have them and not just look back at them with regret when they are gone.
Here the Americans have one on us. They are always expecting something new to turn up and usually it does. We are in good shape, this budget should bring a better deal for pensioners than many anticipated